Goldman Sachs Group Inc. has started doling out the pink slips to investment bankers due to the crawling markets and merger slump, according to Reuters.
The report says hundreds of support staff and junior-level bankers were
let go, and around 25% of employees at the vice president level. Wall
Street has laid off more than 60,000 since the credit crunch began. Lehman Brothers Inc. and Bear Stearns Cos. laid off a large number of employees due to the ailing markets -- and in Bear's case due to a merger with J.P. Morgan Chase & Co.
So
far there have been 4,000 dismissals at Morgan Stanley, 5,000 at
Merrill Lynch & Co., 7,000 at UBS and 16,000 at Citigroup Inc., according to
New York Magazine. - Maria Woehr
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Goldman Sachs Group Inc. has started doling out the pink slips to investment bankers due to the crawling markets and merger slump, 
